** Not financial advice ***
Update on BTC idea ...
I do believe we get one more low, but not before a push up.
Whales need to find liquidity to fill their bags ... what better way than a bull trap. I think we get one push higher in this reaccumulation zone making people think the bottom is in.
Where will all their stop losses go? A tick below the bottom wick on the crash. That will get hunted and should be, I think, the last retail flush out before big boy buying and holding.
This also helps the exchanges as a move below the currently accepted "bottom" would be an ideal bear trap. A range below the wick would increase retail shorts at which point they get blown out on a move higher cause whale bags to inflate.
So, in summary ...
- If you bought in this accumulation range, I would be looking to unload bags on any price increases ... ideally they allow this to be pushed up to the top of the range, but wouldnt be surprised if we dont get that chance.
- Once you are out, stay out, until .... bottom breaks, look for the real accumulation below, or top breaks up and exit would be near 61.8 on the chart
This is the game the way I see it for now. The whales are on the hunt for liquidity .... and they will play with your emotions.
Update on BTC idea ...
I do believe we get one more low, but not before a push up.
Whales need to find liquidity to fill their bags ... what better way than a bull trap. I think we get one push higher in this reaccumulation zone making people think the bottom is in.
Where will all their stop losses go? A tick below the bottom wick on the crash. That will get hunted and should be, I think, the last retail flush out before big boy buying and holding.
This also helps the exchanges as a move below the currently accepted "bottom" would be an ideal bear trap. A range below the wick would increase retail shorts at which point they get blown out on a move higher cause whale bags to inflate.
So, in summary ...
- If you bought in this accumulation range, I would be looking to unload bags on any price increases ... ideally they allow this to be pushed up to the top of the range, but wouldnt be surprised if we dont get that chance.
- Once you are out, stay out, until .... bottom breaks, look for the real accumulation below, or top breaks up and exit would be near 61.8 on the chart
This is the game the way I see it for now. The whales are on the hunt for liquidity .... and they will play with your emotions.
Comment:
Exiting positions ... volume is not very impressive ... if this breaks higher above this zone, the hope is its done with a lot of volume, at least double what is coming in now. Anything less feels like a trap. Closing and waiting it out ...